Metro Manila (CNN Philippines, January 10) — The administration of President Ferdinand Marcos Jr. has raised $3 billion from its second foreign bond issuance, with the Finance chief saying this reflects investors’ confidence in the Philippines.
The Department of Finance said Tuesday the government secured $500 million for the 5.5-year tranche, $1.25 billion for the 10.5-year tranche, and $1.25 billion for the 25-year ESG or environmental, social and governance bonds.
“The robust demand for our first international bond offering in 2023 represents a strong vote of confidence by international investors. It is a testament to the Republic’s sound economic fundamentals and the resilience of our economy in the face of volatile global financial markets,” Finance Secretary Benjamin Diokno was quoted as saying in a statement issued by the Bureau of the Treasury.
National Treasurer Rosalia de Leon echoed Diokno, boasting about the Philippines’ “blockbuster reception” from the offshore debt market.
“The blockbuster reception and tight pricing achieved in all tranches of our latest offering, despite coming on the heels of curtain-raisers done by other big-name sovereigns, reaffirms the distinction of Philippine credit as favored proposition even in times of uncertainties in the market landscape,” de Leon said.
The Treasury said the proceeds would be used for “general purposes of the Republic, including budgetary support.”
The Marcos admin made its global bond market debut in October 2022, raising $2 billion from international investors.
